The Durable Power of Attorney allows you to designate someone to make financial decisions for you in the event you are unable to do so for yourself.  The Durable Power of Attorney is effective even after you are incapacitated.  However, it ceases to be effective upon your death.

What type of things could my agent do for me and when?  This would include things like paying your bills, signing tax returns, selling property, transferring stocks and bonds, collecting government benefits, and generally handling your financial affairs.  You can even allow them to make gifts for estate planning purposes.  You can make the financial power of attorney effective immediately, or reserve those powers until you become unable to handle your own affairs. 

What if I do not have a Durable Power of Attorney and I lose mental capacity?  Usually, the only thing that can be done when you do not have a Durable Power of Attorney is to have the court appoint a Guardian over your estate, either on a temporary basis, or a permanent basis.  Unless you specifically give someone the authority under a power of attorney, no one is presumed to have any rights over you once you turn 18 years of age, not even your spouse.

Have you designated someone to make your financial decisions for you in the event you are unable to do so?  If not, you need to call Barry now.  Durable Powers of Attorney are simple and inexpensive and can be extremely valuable in the event of a disability.